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European Edition
13th May 2026
 
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THE HOT STORY

Dutch unions threaten strikes over benefit cuts

The FNV, CNV, and VCP unions have threatened potential nationwide strikes if the cabinet does not withdraw proposed cuts to unemployment benefits (WW), disability benefits (WIA), and state pensions (AOW) by May 30. FNV Chairman Hans Spekman said: "This issue affects people's very existence. We cannot enter a dialogue on these dismantling proposals." The cabinet's proposal aims to increase the AOW retirement age in line with life expectancy, which the unions argue unfairly burdens workers and pensioners. CNV Chairman Hans van den Heuvel described the cabinet's approach as a "blunt axe," while VCP Chairman Nic van Holstein condemned it as a violation of previous agreements.
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RISK

EU to stockpile key drugs

EU member states have agreed on Critical Medicines Act that aims to incentivise domestic production that aims to end persistent scarcity of key drugs and reduce reliance on imports. “Patients should not have to worry about whether critical medicines such as antibiotics will be available at their pharmacy or hospital,” said Neophytos Charalambides, health minister of Cyprus. “With today’s agreement, we are taking practical action to reduce our vulnerabilities, diversify supply chains and strengthen Europe’s capacity to produce critical medicines and their ingredients closer to home.”
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WORKFORCE

Portuguese television workers call for Eurovision boycott

Workers at Portuguese broadcaster RTP have issued an open letter calling for a boycott of the 2026 Eurovision Song Contest. They cite the escalating violence in the Middle East and argue that allowing Israel to participate contradicts fundamental human rights and dignity. The letter, addressed to key officials including Nicolau Santos, the president of the RTP Board of Directors, criticises RTP's previous acceptance of Israel's participation despite the ongoing humanitarian crisis. The workers emphasise that their stance is a moral responsibility, not censorship, and urge RTP to affirm that culture should not legitimise crimes against humanity.
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STRATEGY

Breitling cuts jobs as luxury slowdown and strong Swiss franc weigh on earnings

Breitling has cut more than 50 jobs globally as the Swiss watchmaker responds to weaker luxury demand, higher costs and currency headwinds. The company, owned by Partners Group and CVC Capital Partners, reported adjusted EBITDA down 21% to SFR162m ($208m) and net sales down 11% to SFRF769m for the year to March 31st, with the strength of the Swiss franc and softer demand in key markets, including the US, impacting performance. The restructuring forms part of cost-cutting measures under chief executive Georges Kern as the group continues to invest in expanding its brand portfolio.
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HIRING

Work-seeking youngsters burned out by 'doomjobbing'

Psychotherapists have coined "doomjobbing" as a term for young graduates who are addicted to endlessly refreshing job listings. Jo Hemmings, a behavioural psychologist, observes: "Infinite-scroll job boards create a powerful dopamine loop where every new role offers a tiny hit of hope . . . Most applications go nowhere but the occasional response keeps people coming back. That unpredictability is psychologically very addictive." Consequent "emotional hypervigilance" leaves people exhausted and demoralised, she said. "Anticipation, rejection, despair, anticipation, rejection, despair. Ultimately it is a waste of time," says psychotherapist Jo Ellen Grzyb. "Even though it looks as though they're busy 'doing' something it's quite a passive position to be in."
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TRAINING & DEVELOPMENT

AI used to train firm's lawyers on soft skills

Law firm Perkins Coie's London office is seeking to enhance its lawyers' soft skills through a partnership with AI training platform Levra. The firm is beta testing a program that uses avatars to simulate scenarios focused on emotional and social intelligence. Ian Bagshaw, the managing partner of Perkins Coie’s London office, said: “We’re working with [Levra] in order to create a training pathway across core skills that allows our talent to practice, learn, practice outside of client situations, so that when they’re in client situations and when they’re in difficult internal situations, they are prepared, they’ve seen it before, they understand how best to communicate.” Bagshaw added: “The use of technology creates an absolute safe space for people to experiment . . . It’s very hard to recreate it in any human coaching environment.”
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CORPORATE

Top ECB official attacks German opposition to UniCredit’s bid for Commerzbank

European Central Bank vice-president Luis de Guindos says the German government's opposition to Italian lender UniCredit’s bid for Commerzbank goes against the spirit of the EU single market.
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ECONOMY

German industrial production unexpectedly fell in March for a second month

German industrial output unexpectedly fell for a second month in March. Most economists surveyed by Bloomberg had forecast an increase. Industrial production dipped 0.7% from February, driven by declines in energy and machinery and equipment manufacturing, the German statistics office said. “The renewed decline confirms the general picture that industrial production has been fluctuating sideways at a low level for the past year and a half,” observed Joerg Kraemer, chief economist at Commerzbank. Referencing the release of figures showing factory orders jumped far more than expected in March, he added: “[The] increase in orders will not change this, as it was primarily due to war-related pull-forward effects.”
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INTERNATIONAL

Google settles racial discrimination lawsuit for $50m

Google has agreed to pay $50m to settle a lawsuit filed by Black employees alleging systemic racial discrimination in hiring, pay, and advancement. April Curley, a former employee, claimed the company engaged in unfair treatment, steering Black workers into lower-level roles. Civil rights attorney Ben Crump, representing the plaintiffs, said: "This case is about accountability, plain and simple . . . For far too long, Black employees in the tech industry have faced barriers that limit opportunity. This settlement is a significant step toward holding one of the world’s most powerful companies accountable and making clear that discriminatory practices cannot and will not be tolerated.” The settlement includes commitments to pay equity analyses and limits on mandatory arbitration for employment disputes until August 2026. Google has not commented on the settlement.

Electric trucks are taking off in China as diesel prices soar

Sales of electric trucks in China tripled in 2025. Improving battery and charging technology is making electrification of long-distance and heavy haulage more viable, and the nascent sector is expected to get a boost from the Iran war, as higher diesel prices potentially stimulate electric truck sales. “Fleet operators are switching because the math finally works, not just because of regulatory pressure,” said Xu Shuo, chief financial officer at GAC Lingcheng, a Guangzhou-based company which sells commercial vehicles domestically. “Charging may take some time, but I plan it along with my breaks and it’s not a problem,” said an electric truck driver identified only as Shen. “The cost savings really make a difference.”

Ugandan lawmakers pass controversial Protection of Sovereignty Bill

Lawmakers in Uganda have passed the Protection of Sovereignty Bill despite strong opposition resistance. The bill sets out a fine of 2bn shillings ($530,000) for organisations and a 10-year prison term or heavy fines for individuals flouting the law by “engaging in economic sabotage.” Uganda’s parliament said on X: “Economic sabotage refers to an agent of a foreigner who knowingly publishes false information or participates in any disruptive act that weakens, undermines or damages the economic system.” 

Lula moves to end Brazil’s six-day working week

Brazil's leftwing President Luiz Inácio Lula da Silva has proposed cutting maximum weekly hours from 44 to 40 to in effect end the six-day working week, without reducing wages.
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OTHER

Direct London to Switzerland rail link on track

Eurostar, SBB, and SNCF Voyageurs have signed a memorandum of understanding to explore a direct rail connection between London and Switzerland which will be potentially operational by the 2030s. The development follows a cooperation agreement aimed at enhancing partnerships and expanding routes. Demand for international rail travel is rising due to uncertainties in aviation. Direct travel times are estimated at six hours to Zurich, five hours to Basel, and five and a half hours to Geneva.
 
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